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Nigeria the largest economy? Really?
Rank: Member Joined: 10/9/2009 Posts: 311
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some south africans are catching feelings which is sad and shortsighted. nigeria's gain can be their gain. they have the sophisticated corporations that can tap that huge market and some already are. Katika Jangwa la Jangili ndipo Pwagu hupata Pwaguzi.
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Rank: New-farer Joined: 12/16/2013 Posts: 49 Location: Nairobi
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I am sure you are all aware of the GDP re-basing by Nigeria that propelled it into the largest economy in AFRICA. Whereas i feel the re-basing was necessary on the account that Film production, financial services and telecommunication service were included in the new formula, i feel like its a leap too high. I still think S.A is miles ahead if you consider factors such as the per capita income. i mean 52% of Nigerians live below the poverty line and the per capita income of SA is 3x that of Naija (I know the population is high) What i think? Nigeria has a long way to go. Some crazy statistics should let them borrow more. In addition to that, they need to tackle graft and diversify their economy not just depend on oil production. Did i say this adds no nairas to the pockets of Ike and his sister Dora? "'Nowadays people know the price of everything and the value of nothing.' - Oscar Wilde.
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Rank: Veteran Joined: 11/15/2012 Posts: 1,110
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McReggae wrote:masukuma wrote:Swenani wrote:InnovateGuy wrote:Quality of life should be the key. The rest is unnecessary details. That's what am trying to say no they are not! How can the GDP of a country be called unneccessary details????
Yes, GDP is unnecessary detail without the human aspect. It's not the size. It's the quality. Live Full Die Empty - Les Brown.
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Rank: Elder Joined: 12/11/2008 Posts: 2,306
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Na yetu tuta recalculate lini ishinde ya EAC yote? Great men are not always wise, neither do the aged understand judgement...
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Rank: Veteran Joined: 11/15/2012 Posts: 1,110
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Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Live Full Die Empty - Les Brown.
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Rank: Member Joined: 10/9/2009 Posts: 311
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Robinhood wrote:Na yetu tuta recalculate lini ishinde ya EAC yote? ours base year should much more current kama sijakosea. reason for a rise labda identifying missing chunks of the informal economy. watu waombe tupate mafuta. another skyrocketing economy is angola which was smaller than kenya in 2003. saa hii wako number 5 africa and they are almost triple our size. Katika Jangwa la Jangili ndipo Pwagu hupata Pwaguzi.
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa If Obiero did it, Who Am I?
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Rank: Veteran Joined: 11/15/2012 Posts: 1,110
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Jangwa la Jangili wrote:Robinhood wrote:Na yetu tuta recalculate lini ishinde ya EAC yote? ours base year should much more current kama sijakosea. reason for a rise labda identifying missing chunks of the informal economy. watu waombe tupate mafuta. another skyrocketing economy is angola which was smaller than kenya in 2003. saa hii wako number 5 africa and they are almost triple our size. Angola has oil. So its understandable when their GDP is ranked 5th in Africa. However, life expectancy in Angola is 51 years. That tells a lot about the human aspect of their GDP. Live Full Die Empty - Les Brown.
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa You are arguing on why GDP is not important and using lines that can form another very important topic, otherwise read again my simple reason above on why a bigger GDP is still a good thing for a country!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Member Joined: 8/30/2010 Posts: 183 Location: Migingo
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There are two issues here that you need to understand; i)The gross GDP in real terms ii) The GDP per capita Its possible that Nigeria could be Africa's largest economy when looking at the gross GDP which factors in all the goods and services produced in the country. Remember their immense population and the obviously thriving film industry can easily catapult them to this. Just look at how China overtook Japan to be the worlds second largest economy! However, when now you get down to serious figures business by dividing the gross GDP by the population, then the whole equation changes totally and Nigeria may be anywhere in the bottoms just like Kenya. Don't Work for Money, Let Money Work for You..
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Rank: Veteran Joined: 11/15/2012 Posts: 1,110
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Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Live Full Die Empty - Les Brown.
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Interestingly the growth in Nigeria's GDP alone means that the GDP for Sub Sahara Africa has increased by more than 20%. The value of the increase amounts to nothing less than 40 economies roughly the size of Malawi, very ineteresting!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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McReggae wrote:InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! I say it would be worse off by more than 50%. Considering multiplier effects.
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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tycho wrote:McReggae wrote:InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! I say it would be worse off by more than 50%. Considering multiplier effects.  That should settle the argument concerning the GDP of a country!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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McReggae wrote:InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa . @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! The GDP of Nigeria has just gone up more than 50%.Is the common nigerian better of or worse of than when their GDP was $262? All these rebasing and sizes of GDP is just a vanity. As the nigerian economy/GDP has been growing the Nigerian population living below the poverty line has been growing. If Obiero did it, Who Am I?
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Rank: Veteran Joined: 11/15/2012 Posts: 1,110
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McReggae wrote:tycho wrote:McReggae wrote:InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! I say it would be worse off by more than 50%. Considering multiplier effects. That should settle the argument concerning the GDP of a country!!! Boss, stop living in a fools paradise. Now that the GDP of Nigeria increased by more than 50 % overnight, did the quality of life increase by 50 %? GDP is meant to bring the feel good effects that Nigeria is experiencing. We have the largest GDP in Africa. Sawa. How about Wanjiku? Live Full Die Empty - Les Brown.
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Rank: Veteran Joined: 11/15/2012 Posts: 1,110
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tycho wrote:McReggae wrote:InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! I say it would be worse off by more than 50%. Considering multiplier effects. Missing the point by a mile. I said GDP is unnecessary detail in terms of measuring human development. Live Full Die Empty - Les Brown.
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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McReggae wrote:tycho wrote:McReggae wrote:InnovateGuy wrote:Swenani wrote:McReggae wrote:InnovateGuy wrote:Whoever started the GDP concept was bent on presenting macro figures which have little or no relation at all to other index factors that matter to human life.
What does GDP tell you about access to water, education and better health facilities?
Even economists agree that GDP is not an adequate measure of wealth. That's why they introduced GDP per capita.
***
Bottom line: those figures are useless without a social dimension. Really? The GDP represents the economic production and growth of a country and thus has a large impact on nearly everyone within that economy. When the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy! MMcreggae As I said before when the economy grows it mainly benefits the top percent,politicians and the corrupt.Otherwise GDP and GDP per capita are just unnecessary details Take the case of seychelles and Nigeria which have the highest GDP per capita and highest GDP in africa respectively and compare their GDP sizes,HDI and GDP per capita. Now, Do you know that Seychelles is among countries with the highest income inequality at 65% yet they have the highest GDP per capita? Nigeria's income inequality is at 49% while the people living below the poverty line in Nigeria is 70% while south africa the people living below poverty line is 32% and uganda is 25% So would you rather live in Seychelles which has the highest GDP per capita or Nigeria which has the highest GDP and your chances of living below poverty is 70% or live in south africa or uganda and the chances of you living above the poverty line is 68% and 75% respectively? For me am better of in uganda or south africa @ McReggae. Classical economic model? The expectation is that GDP trickles down to the common man. It doesn't work that way. GDP does not address equity. What you call 'healthy' GDP many benefit the top 10 % while life continues to be harsh for the 90 %. Swenani has provided the figures. Today if the GDP of Kenya went down by 50% would the life of the common mwananchi be better off or worse off!!!! I say it would be worse off by more than 50%. Considering multiplier effects. That should settle the argument concerning the GDP of a country!!! Yes. Especially if we consider what happens if GDP rises by 50%. Wanjiku's income rises by less than 50%. Much less.
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